6:37 pm
Monday 05 December 2022
I wrote – Dina Khaled:
The price of an ounce of 24-karat gold jumped above the £2,000 level for the first time in its history during trading today Monday in Egypt amid a state of turbulence that prevailed in the gold and has led some traders to halt prices, waiting for market stability.
The price of an ounce of 24-karat gold trading tonight peaked at £2091, after the price of a 21-karat gram jumped to around £1830, a new record high, up around £180 pounds compared to what it was last night, Sunday.
The price of a 21-carat gram has risen by around £355 since the start of this month alone, compared to £1475 per gram at the end of November.
The price of gold has risen by 130.2% since the beginning of this year and the price of a 21-carat gram is up £1035, up from £795 at the end of 2021.
In a sign that the gold market is out of control in prices, Hani Milad, head of the gold division at the Cairo Chamber of Commerce, told Masrawy earlier in the day that some traders and shops have stopped publishing the gold prices after the subsequent rapid price increases, after the price of one gram exceeded 1800. fairy.
Club Naguib, former Secretary General of the Gold Division of the Cairo Chamber of Commerce, told Masrawy that the jumps in gold prices are due to increased demand for gold in Egypt as imports halted, as well as of the dollar price in the parallel market.
The price of the gold pound struck a new record, registering £14,640, the highest price in its history, up about £1,440 in one day compared to last night.
